| Singapore’s sovereign-wealth fund, GIC Pte., is planning to invest $165 million in India’s Bandhan Financial Services in a move that will enable the Kolkata-based microfinance company to set up a full-fledged bank.
“I’m very happy because with this money we’ll be able to upgrade our operations,” Bandhan Chairman Chandra Shekhar Ghosh said. Mr. Ghosh said in addition to the GIC investment, Bandhan has also raised about $85 million from the International Financial Corp., the arm of the World Bank which invests in private sector companies in emerging markets...............................................Full Article: Source
|